www.upstreamonline.com http://www.upstreamonline.com/ www.upstreamonline.com Total in refinery stake sale to Rosneft http://www.upstreamonline.com/live/1385085/Total-in-refinery-stake-sale-to-Rosneft Total is selling its share in a Germany refinery to Rosneft in a deal that is seeing the Russian giant significantly increase its holding in the facility. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1385085/Total-in-refinery-stake-sale-to-Rosneft Fri, 28 Nov 2014 15:25:05 +0000 live Sterling rejigs bond ahead of sales http://www.upstreamonline.com/live/1385083/Sterling-rejigs-bond-ahead-of-sales Canada’s Sterling Resources has said a majority of its bondholders have agreed to amend their terms to free up cash for the explorer while it chases farm-down and divestment deals to cover the shortfall from the under-performing Breagh field in the UK North Sea. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1385083/Sterling-rejigs-bond-ahead-of-sales Fri, 28 Nov 2014 15:22:38 +0000 live Statoil gets Sverdrup vote http://www.upstreamonline.com/live/1385066/Statoil-gets-Sverdrup-vote Statoil has effectively secured operatorship throughout all phases of the giant Johan Sverdrup field off Norway after being recommended for the role by partners. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1385066/Statoil-gets-Sverdrup-vote Fri, 28 Nov 2014 13:30:43 +0000 live Seven Rio makes a splash http://www.upstreamonline.com/live/1385058/Seven-Rio-makes-a-splash Subsea 7’s latest newbuild pipelay support vessel Seven Rio has hit the water at IHC Merwede's yard in the Netherlands. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1385058/Seven-Rio-makes-a-splash Fri, 28 Nov 2014 13:07:41 +0000 live Huntington to restart http://www.upstreamonline.com/live/1385051/Huntington-to-restart The Huntington oilfield off the UK is set to restart ahead of schedule this weekend after a month-long shutdown, according to partner Premier Oil. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1385051/Huntington-to-restart Fri, 28 Nov 2014 12:32:38 +0000 live Petronas profit drops in Q3 http://www.upstreamonline.com/live/1385039/Petronas-profit-drops-in-Q3 Malaysia's Petronas saw its net profit drop in the third quarter as lower realised energy prices negated a hike in production. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1385039/Petronas-profit-drops-in-Q3 Fri, 28 Nov 2014 11:51:33 +0000 live Dart Energy defends Welsh drill plans http://www.upstreamonline.com/live/1385021/Dart-Energy-defends-Welsh-drill-plans IGas Energy-owned onshore explorer Dart Energy has rejected claims its coal-bed methane exploration plans in north Wales could desecrate the graves of a historic mining disaster. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1385021/Dart-Energy-defends-Welsh-drill-plans Fri, 28 Nov 2014 10:12:38 +0000 live TTS cuts staff http://www.upstreamonline.com/live/1385022/TTS-cuts-staff Norwegian offshore crane supplier TTS Group is being forced to cut staff due to a drop-off in market demand. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1385022/TTS-cuts-staff Fri, 28 Nov 2014 10:11:10 +0000 live Losses mount for Noreco http://www.upstreamonline.com/live/1385012/Losses-mount-for-Noreco Struggling Norwegian independent Noreco suffered a heavy loss of Nkr1.1 billion ($157.2 million) in the third quarter as hefty impairments due to field write-downs took a toll on its bottom line. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1385012/Losses-mount-for-Noreco Fri, 28 Nov 2014 09:54:58 +0000 live Plexus wins work on Det Norske well http://www.upstreamonline.com/live/1385004/Plexus-wins-work-on-Det-Norske-well London-listed player to supply equipment services for appraisal well on the Iva Aasen development Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1385004/Plexus-wins-work-on-Det-Norske-well Fri, 28 Nov 2014 08:53:14 +0000 live Dolphin nets new award http://www.upstreamonline.com/live/article1385006.ece Dolphin Geophysical has secured a further 3D seismic survey contract off West Africa for an unnamed independent. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/article1385006.ece Fri, 28 Nov 2014 08:44:55 +0000 live SeaBird plunges into the red http://www.upstreamonline.com/live/1385005/SeaBird-plunges-into-the-red Norwegian seismic player SeaBird Exploration slumped to a loss in the third quarter as weak demand hit revenue and it is now looking at possible vessel lay-ups as part of a cost-cutting effort amid a financial crisis. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1385005/SeaBird-plunges-into-the-red Fri, 28 Nov 2014 08:26:53 +0000 live Rivals face off for Bonga SW http://www.upstreamonline.com/live/1385002/Rivals-face-off-for-Bonga-SW Shell has sent commercial bid documents to two rivals battling to engineer and build a mighty 225,000-barrels per day floating production, storage and offloading vessel for the $12 billion Bonga South West-Aparo project off Nigeria. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1385002/Rivals-face-off-for-Bonga-SW Fri, 28 Nov 2014 08:03:13 +0000 live Technip wins Gullfaks subsea contract http://www.upstreamonline.com/live/1385000/Technip-wins-Gullfaks-subsea-contract French engineering company Technip has landed a subsea contract on Statoil's Gullfaks field in the Norwegian sector of the North Sea. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1385000/Technip-wins-Gullfaks-subsea-contract Fri, 28 Nov 2014 06:57:09 +0000 live Pembina to expand Alberta facility http://www.upstreamonline.com/live/1384999/Pembina-to-expand-Alberta-facility Calgary-based Pembina Pipeline plans to build a new gas processing plant to expand its capacity at its Musreau facility in Alberta, Canada. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384999/Pembina-to-expand-Alberta-facility Fri, 28 Nov 2014 04:42:21 +0000 live Oil continues to fall in wake of Opec meeting http://www.upstreamonline.com/live/1384996/Oil-continues-to-fall-in-wake-of-Opec-meeting Brent crude fell towards $72 a barrel on Friday, close to a four-year low touched the day before after Opec decided not to cut oil output to support prices. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384996/Oil-continues-to-fall-in-wake-of-Opec-meeting Fri, 28 Nov 2014 03:28:18 +0000 live Rosneft jack-up deal in doubt http://www.upstreamonline.com/live/1384995/Rosneft-jack-up-deal-in-doubt A contract for Rosneft to charter the jack-up Energy Endeavour is in doubt, with owner Northern Offshore revealing the deal has been delayed and it is marketing the rig to other potential clients. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384995/Rosneft-jack-up-deal-in-doubt Fri, 28 Nov 2014 02:48:09 +0000 live Venezuela to keep pushing to reverse oil decline http://www.upstreamonline.com/live/1384994/Venezuela-to-keep-pushing-to-reverse-oil-decline Venezuela will keep campaigning until oil prices rebound to $100 per barrel, President Nicolas Maduro said after Opec refused to cut output as the cash-strapped South American country had aggressively pushed for. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384994/Venezuela-to-keep-pushing-to-reverse-oil-decline Fri, 28 Nov 2014 02:18:53 +0000 live DSIC Offshore targeting deal for semisub tender http://www.upstreamonline.com/live/1384993/DSIC-Offshore-targeting-deal-for-semisub-tender Chinese yard Dalian Shipbuilding Industry Corporation Offshore(DSIC Offshore) is in advanced talks with Singapore-based rigowner Upstream Drilling to finalise a deal that would see DSIC Offshore building a semi-submersible tender assist drilling rig with options for three more units. (News Wires) http://www.upstreamonline.com/live/1384993/DSIC-Offshore-targeting-deal-for-semisub-tender Fri, 28 Nov 2014 02:01:15 +0000 live Quest to farm-in to Alberta oil sands http://www.upstreamonline.com/live/1384991/Quest-to-farm-in-to-Alberta-oil-sands Australia-listed Quest Petorleum has signed a farm-in agreement with Keyano Pimee Exploration to gain a stake in the Cold Lake oil sands in Alberta, Canada. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384991/Quest-to-farm-in-to-Alberta-oil-sands Fri, 28 Nov 2014 01:46:31 +0000 live Rey to take over Blackreef's Derby stake http://www.upstreamonline.com/live/1384989/Rey-to-take-over-Blackreefs-Derby-stake Australia-listed Rey Resources has entered into an agreement with Backreef Oil to gain the latter's 50% interest in the Derby Block in Western Australia's onshore Canning basin. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384989/Rey-to-take-over-Blackreefs-Derby-stake Fri, 28 Nov 2014 01:04:28 +0000 live Oil drops $3 to four-year low http://www.upstreamonline.com/live/1384743/Oil-drops-3-to-four-year-low Brent crude oil fell more than $3 to a fresh four-year low under $75 a barrel on Thursday after OPEC decided not to cut production, despite a huge oversupply in world markets. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384743/Oil-drops-3-to-four-year-low Thu, 27 Nov 2014 16:31:00 +0000 live Opec shuns output cut http://www.upstreamonline.com/live/1384960/Opec-shuns-output-cut Opec has, as widely anticipated, decided not to chop output in the face of dwindling oil prices. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1384960/Opec-shuns-output-cut Thu, 27 Nov 2014 15:44:09 +0000 live Statoil keeps Tune alive http://www.upstreamonline.com/live/1384956/Statoil-keeps-Tune-alive Statoil has secured a six-year extension to the lifetime of its Tune subsea field off Norway after gaining the blessing of the country’s safety agency. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1384956/Statoil-keeps-Tune-alive Thu, 27 Nov 2014 15:29:45 +0000 live Circle Group acquires WellPartner http://www.upstreamonline.com/live/1384949/Circle-Group-acquires-WellPartner A new oilfield services vehicle backed by equity player HitecVision named Circle Group has acquired Norwegian subsea service specialist WellPartner for an undisclosed sum. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1384949/Circle-Group-acquires-WellPartner Thu, 27 Nov 2014 14:23:43 +0000 live Sarqala flagged for first oil http://www.upstreamonline.com/live/1384948/Sarqala-flagged-for-first-oil Canadian player WesternZagros Resources aims to bring online production from its Sarqala discovery in Iraqi Kurdistan early next year together with Russian partner Gazprom Neft. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1384948/Sarqala-flagged-for-first-oil Thu, 27 Nov 2014 14:15:15 +0000 live Opec seeks 'stability and balance' http://www.upstreamonline.com/live/1384947/Opec-seeks-stability-and-balance Opec will need to cut more than 1 million barrels per day from its collective production if oil prices are to fall next year, according to a report, as the organisation meets in Austria on Thursday in an effort to bring “stability and balance” to flagging oil markets. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1384947/Opec-seeks-stability-and-balance Thu, 27 Nov 2014 14:06:51 +0000 live Taipan gains nod in Kenya legal row http://www.upstreamonline.com/live/1384920/Taipan-gains-nod-in-Kenya-legal-row Kenya-focused Taipan Resources has gained permission to continue site preparations for its maiden exploration well in Kenya as a new court date is set to decide a secretive legal battle against the operation next month. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1384920/Taipan-gains-nod-in-Kenya-legal-row Thu, 27 Nov 2014 12:36:42 +0000 live SBM breaks silence on Brazil http://www.upstreamonline.com/live/1384912/SBM-breaks-silence-on-Brazil SBM Offshore has finally broken its silence in the wake of allegations made against it in recent weeks in relation to historical contracts involving Brazil's Petrobras. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1384912/SBM-breaks-silence-on-Brazil Thu, 27 Nov 2014 12:13:22 +0000 live Lukoil profit sinks by 47% http://www.upstreamonline.com/live/1384911/Lukoil-profit-sinks-by-47 Russia’s Lukoil reported a 47% plunge in net profit in the third quarter as currency losses, lower oil prices and asset write-downs ate into higher revenues. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1384911/Lukoil-profit-sinks-by-47 Thu, 27 Nov 2014 11:29:01 +0000 live Oz shale prey in Falcon sights http://www.upstreamonline.com/live/1384910/Oz-shale-prey-in-Falcon-sights Irish explorer Falcon Oil & Gas is lining up a three-well drilling campaign next year on shale acreage in Australia’s Beetaloo basin together with new farm-in partners that are carrying its exploration costs. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1384910/Oz-shale-prey-in-Falcon-sights Thu, 27 Nov 2014 11:24:27 +0000 live Ivar Aasen appraisals on menu http://www.upstreamonline.com/live/1384909/Ivar-Aasen-appraisals-on-menu Det Norske is chasing more resource potential at its under-development Ivar Aasen field off Norway with plans to drill a pair of appraisal wells over the coming months. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1384909/Ivar-Aasen-appraisals-on-menu Thu, 27 Nov 2014 10:50:00 +0000 live Dolphin bags India award http://www.upstreamonline.com/live/1384905/Dolphin-bags-India-award Oslo-listed seismic contractor Dolphin Geophysical has secured work with an unnamed client to carry out two 3D surveys off India. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1384905/Dolphin-bags-India-award Thu, 27 Nov 2014 10:17:28 +0000 live Delek advances plans for UK listing http://www.upstreamonline.com/live/1384901/Delek-advances-plans-for-UK-listing Israel’s Delek Group is advancing plans to list its shares on the London Stock Exchange by mid-2015 as it sells non-energy subsidiaries to focus on developing its gas discoveries. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1384901/Delek-advances-plans-for-UK-listing Thu, 27 Nov 2014 10:09:40 +0000 live Sistema launches review as profit sinks http://www.upstreamonline.com/live/1384900/Sistema-launches-review-as-profit-sinks Russian conglomerate Sistema has launched a review into its costs, portfolio and investment strategy in the wake of the seizure by the state of its holding in oil producer Bashneft and arrest of its chairman. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1384900/Sistema-launches-review-as-profit-sinks Thu, 27 Nov 2014 10:03:58 +0000 live ExxonMobil eyes Liberia PSC extension http://www.upstreamonline.com/live/1384892/ExxonMobil-eyes-Liberia-PSC-extension ExxonMobil is likely to get an extension to its production sharing contract off Liberia after suspending drilling of a wildcat due to the outbreak of the Ebola virus in the region. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1384892/ExxonMobil-eyes-Liberia-PSC-extension Thu, 27 Nov 2014 09:24:51 +0000 live Lund pay deal 'falls foul' of Whitehall http://www.upstreamonline.com/live/1384775/Lund-pay-deal-falls-foul-of-Whitehall UK Business Secretary Vince Cable has reportedly added his voice to the chorus of investor protest over the pay deal being offered by BG Group to new chief executive Helge Lund - and is rallying shareholders to vote against it. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1384775/Lund-pay-deal-falls-foul-of-Whitehall Thu, 27 Nov 2014 08:57:00 +0000 live Clarksons nets Platou deal http://www.upstreamonline.com/live/1384752/Clarksons-nets-Platou-deal UK shipbroking giant Clarksons has won the backing of the vast majority of shareholders at RS Platou for its proposed $440 million takeover of the Norwegian broking house. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1384752/Clarksons-nets-Platou-deal Thu, 27 Nov 2014 08:23:55 +0000 live Niger survey under way http://www.upstreamonline.com/live/1384750/Niger-survey-under-way Niger-focused Savannah Petroleum has kicked off an airborne full tensor gradiometry survey across R1/R2 licence area. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1384750/Niger-survey-under-way Thu, 27 Nov 2014 07:51:23 +0000 live Rose signs on Utah rig http://www.upstreamonline.com/live/1384748/Rose-signs-on-Utah-rig London-listed Rose Petroleum has signed on a drilling contractor to spud the first well in its upcoming campaign in the US state of Utah. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384748/Rose-signs-on-Utah-rig Thu, 27 Nov 2014 07:42:09 +0000 live Hawkley investigates gas drop http://www.upstreamonline.com/live/1384746/Hawkley-investigates-gas-drop Australia-listed Hawkley Oil & Gas is investigating the quickly-declining gas production rates of Well 201 on the Sorochynska licence in Ukraine. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1384746/Hawkley-investigates-gas-drop Thu, 27 Nov 2014 06:13:35 +0000 live Mermaid's profits almost triple http://www.upstreamonline.com/live/1384742/Mermaids-profits-almost-triple Offshore service provider Mermaid Maritime saw profits nearly triple during the third quarter of the year as higher revenues and contributions from an associated drilling company helped boost results. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384742/Mermaids-profits-almost-triple Thu, 27 Nov 2014 04:16:46 +0000 live Kleven delivers Rem Eir PSV http://www.upstreamonline.com/live/1384741/Kleven-delivers-Rem-Eir-PSV Kleven Verft has delivered, what it claims to be, the largest liquefied natural gas powered platform supply vessel to fellow Norwegian company Remoy Shipping. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384741/Kleven-delivers-Rem-Eir-PSV Thu, 27 Nov 2014 03:51:57 +0000 live Buru suspends Ungani North test http://www.upstreamonline.com/live/1384739/Buru-suspends-Ungani-North-test Australia-listed Buru Energy has temporarily suspended the Ungani North-1 well in the Canning basin as its current testing programme hits problems. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1384739/Buru-suspends-Ungani-North-test Thu, 27 Nov 2014 03:23:26 +0000 live Linc hits signs of oil in Arckaringa basin http://www.upstreamonline.com/live/1384738/Linc-hits-signs-of-oil-in-Arckaringa-basin Singapore-listed Linc Energy has had a promising start to its exploration campaign in South Australia's Arckaringa basin, finding oil shows with its first well. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384738/Linc-hits-signs-of-oil-in-Arckaringa-basin Thu, 27 Nov 2014 02:41:21 +0000 live Santos hits gas in Cooper http://www.upstreamonline.com/live/1384737/Santos-hits-gas-in-Cooper Santos has hit a new wet gas discovery at the Western Cooper wet gas project in Australia's onshore Cooper basin. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1384737/Santos-hits-gas-in-Cooper Thu, 27 Nov 2014 01:29:09 +0000 live NWS partners green light Persephone http://www.upstreamonline.com/live/1384735/NWS-partners-green-light-Persephone North West Shelf (NWS) operator Woodside Petroleum and its joint venture partners have approved the Persephone project, off Australia's north-west coast. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384735/NWS-partners-green-light-Persephone Thu, 27 Nov 2014 01:18:04 +0000 live WA banking on Torosa http://www.upstreamonline.com/live/1384734/WA-banking-on-Torosa Western Australia’s state government estimates the new maritime boundary over the Torosa gas field could mean increases in state royalties of up to A$2.9 billion (US$2.5 billion). (Russell Searancke) http://www.upstreamonline.com/live/1384734/WA-banking-on-Torosa Thu, 27 Nov 2014 00:53:10 +0000 live Beach unveils new managing director http://www.upstreamonline.com/live/1384733/Beach-unveils-new-managing-director Australia's Beach Energy has revealed a current Woodside Petroleum executive will replace long serving managing director Reg Nelson in the role next year. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384733/Beach-unveils-new-managing-director Thu, 27 Nov 2014 00:43:20 +0000 live Crude falls ahead of Opec meeting http://www.upstreamonline.com/live/1384732/Crude-falls-ahead-of-Opec-meeting Oil prices fell on Wednesday after Opec increased signals that it would hold off making any major production cuts this week. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1384732/Crude-falls-ahead-of-Opec-meeting Wed, 26 Nov 2014 23:02:28 +0000 live Nigerian committee: 'Shell should pay $4bn' http://www.upstreamonline.com/live/1384731/Nigerian-committee-Shell-should-pay-4bn A committee in Nigeria's House of Representatives said on Wednesday that supermajor Shell should pay $3.96 billion for a 2011 spill at its offshore Bonga oilfield in the latest assessment of damage to the environment. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1384731/Nigerian-committee-Shell-should-pay-4bn Wed, 26 Nov 2014 22:57:08 +0000 live OceanWorks gets MWCC storage gig http://www.upstreamonline.com/live/1384730/OceanWorks-gets-MWCC-storage-gig Canadian engineering firm OceanWorks International has won a contract from the Marine Well Containment Company (MWCC) to supply a storage and maintenance facility for certain components of the consortium's containment system. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1384730/OceanWorks-gets-MWCC-storage-gig Wed, 26 Nov 2014 22:52:27 +0000 live C&J puts itself back on the market http://www.upstreamonline.com/live/1384729/CJ-puts-itself-back-on-the-market C&J Energy Services has started soliciting new offers to buy the company after a Delaware judge halted a proposed merger between the pressure pumper and rig owner Nabors Industries. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1384729/CJ-puts-itself-back-on-the-market Wed, 26 Nov 2014 22:41:51 +0000 live Maryland moves to allow fracking http://www.upstreamonline.com/live/1384727/Maryland-moves-to-allow-fracking Officials in the US state of Maryland have taken steps to start permitting hydraulic fracturing in the western part of the state, according to reports. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1384727/Maryland-moves-to-allow-fracking Wed, 26 Nov 2014 22:00:00 +0000 live Damen gets upgrade gig for MSV Seawell http://www.upstreamonline.com/live/1384726/Damen-gets-upgrade-gig-for-MSV-Seawell Helix UK has awarded a unit of Damen Shiprepair & Conversion a contract to perform a major upgrade of light well intervention and dive support vessel MSV Seawell. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1384726/Damen-gets-upgrade-gig-for-MSV-Seawell Wed, 26 Nov 2014 21:36:56 +0000 live Audit: Macondo settlements mostly correct http://www.upstreamonline.com/live/1384724/Audit-Macondo-settlements-mostly-correct A third-party audit of the settlement programme related to the Macondo oil spill of 2010 found that the vast majority claims filed against BP were valid, giving a boost to the administrator of the payouts whom the UK supermajor tried to oust. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1384724/Audit-Macondo-settlements-mostly-correct Wed, 26 Nov 2014 21:21:03 +0000 live US rig count falls by 12 http://www.upstreamonline.com/live/1384722/US-rig-count-falls-by-12 The number of oil and gas rigs drilling in the US fell by 12 this week for a total of 1917, according to Houston-based services giant Baker Hughes. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1384722/US-rig-count-falls-by-12 Wed, 26 Nov 2014 21:00:10 +0000 live ConocoPhillips challenges PDVSA Citgo sale http://www.upstreamonline.com/live/1384721/ConocoPhillips-challenges-PDVSA-Citgo-sale Independent player ConocoPhillips has accused Venezuela's state-run oil company PDVSA of using the sale of its Citgo Petroleum refining assets to hinder the ability of the Houston-based company to collect an expected arbitration award, according to a report. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1384721/ConocoPhillips-challenges-PDVSA-Citgo-sale Wed, 26 Nov 2014 18:51:24 +0000 live Report trumpets northern Canada resources http://www.upstreamonline.com/live/1384720/Report-trumpets-northern-Canada-resources Canada's Northwest Territories province contains recoverable conventional resources of more than 16.4 trillion cubic feet of gas and 1.2 billion barrels of crude, according to the nation's top energy regulator. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1384720/Report-trumpets-northern-Canada-resources Wed, 26 Nov 2014 17:04:40 +0000 live Odfjell risks drillship lay-up http://www.upstreamonline.com/live/1384715/Odfjell-risks-drillship-lay-up Odfjell Drilling is facing a possible lay-up for its partly-owned ultra-deepwater drillship Deepsea Metro I as the unit nears the end of its charter, with no more work currently in sight. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1384715/Odfjell-risks-drillship-lay-up Wed, 26 Nov 2014 16:02:04 +0000 live NADL axes dividend, cuts costs http://www.upstreamonline.com/live/1384708/NADL-axes-dividend-cuts-costs North Atlantic Drilling (NADL) has followed majority stakeholder Seadrill in suspending its regular dividend as it reacts to weak offshore drilling markets and a stalled $4.25 billion deal with Russia's Rosneft. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1384708/NADL-axes-dividend-cuts-costs Wed, 26 Nov 2014 13:56:46 +0000 live Seabox in injection initiative http://www.upstreamonline.com/live/1384706/Seabox-in-injection-initiative Norwegian player Seabox is leading a joint industry project to mature a subsea water treatment solution towards a full-scale field development. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1384706/Seabox-in-injection-initiative Wed, 26 Nov 2014 12:03:48 +0000 live Dayrate cut for Sevan rig http://www.upstreamonline.com/live/1384704/Dayrate-cut-for-Sevan-rig Sevan Drilling has been forced to take a dayrate cut on a recently delivered newbuild rig to avoid a contract termination as low utilisation for its fleet in the third quarter hit its liquidity. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1384704/Dayrate-cut-for-Sevan-rig Wed, 26 Nov 2014 11:39:46 +0000 live IGas plans 3D shoot in UK shale http://www.upstreamonline.com/live/1384694/IGas-plans-3D-shoot-in-UK-shale UK shale explorer IGas Energy is planning to gather 3D data over part of its acreage in north-west England ahead of applications for a pair of multi-well shale gas drilling and hydraulic fracturing sites next year. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1384694/IGas-plans-3D-shoot-in-UK-shale Wed, 26 Nov 2014 09:55:41 +0000 live BC green light for LNG terminal http://www.upstreamonline.com/live/1384691/BC-green-light-for-LNG-terminal Malaysia’s Petronas has secured environmental approval from the British Columbia authorities for development of a liquefied natural gas export terminal in the Canadian province. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1384691/BC-green-light-for-LNG-terminal Wed, 26 Nov 2014 09:28:47 +0000 live Profits hit for Seadrill http://www.upstreamonline.com/live/1384688/Profits-hit-for-Seadrill Rig giant Seadrill saw its net profit drop 40% year on year in the third quarter as it was clobbered by higher financial expenses but a raft of recent rig contracts has left it relatively well insulated against the drilling market slump that is putting pressure on dayrates. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1384688/Profits-hit-for-Seadrill Wed, 26 Nov 2014 08:39:57 +0000 live Oil price hits Nigerian naira http://www.upstreamonline.com/live/1384687/Oil-price-hits-Nigerian-naira Nigeria has devalued its home currency as it tries to deal with the effect of plummeting oil prices. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1384687/Oil-price-hits-Nigerian-naira Wed, 26 Nov 2014 08:39:28 +0000 live Odfjell sees profits fall http://www.upstreamonline.com/live/1384685/Odfjell-sees-profits-fall Norway's Odfjell Drilling has posted a fall in profits during the third quarter as it generated less money compared to a year ago. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384685/Odfjell-sees-profits-fall Wed, 26 Nov 2014 08:04:04 +0000 live Hoegh deepens losses http://www.upstreamonline.com/live/1384684/Hoegh-deepens-losses Norwegian shipping player Hoegh LNG slid further into the red during the September quarter due to a number of costs booked against the start of operations on two vessels. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1384684/Hoegh-deepens-losses Wed, 26 Nov 2014 07:30:09 +0000 live WA strikes new reservation deal http://www.upstreamonline.com/live/1384683/WA-strikes-new-reservation-deal Woodside Petroleum and its North West Shelf (NWS) joint venture partners have agreed to reserve the equivalent of 15% of new approved liquefied natural gas exports for domestic consumption. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384683/WA-strikes-new-reservation-deal Wed, 26 Nov 2014 05:50:58 +0000 live Sona hopeful of completing Thai deal http://www.upstreamonline.com/live/1384681/Sona-hopeful-of-completing-Thai-deal Malaysia's Sona Petroleum is still working to close a deal to gain Salamander Energy's 40% stake in the B8/38 and G4/50 concessions off Thailand. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384681/Sona-hopeful-of-completing-Thai-deal Wed, 26 Nov 2014 04:24:31 +0000 live Keppel delivers in Mexico http://www.upstreamonline.com/live/1384680/Keppel-delivers-in-Mexico Singapore’s Keppel has delivered another jack-up rig to Perforadora Central, the fourth in a series of rigs being built for the Mexican player. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1384680/Keppel-delivers-in-Mexico Wed, 26 Nov 2014 04:19:14 +0000 live US to renew Israel oil pact http://www.upstreamonline.com/live/1384677/US-to-renew-Israel-oil-pact The US is in the midst of renewing its 35-year-old commitment to supply Israel with oil in emergency situations after the pact expired on Tuesday, according to reports. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384677/US-to-renew-Israel-oil-pact Wed, 26 Nov 2014 03:25:01 +0000 live Oil steadies under $79 http://www.upstreamonline.com/live/1384676/Oil-steadies-under-79 Brent crude oil steadied below $79 a barrel on Wednesday after Saudi Arabia signalled it was unlikely to push for a major change in OPEC oil output despite a collapse in prices. (News Wires) http://www.upstreamonline.com/live/1384676/Oil-steadies-under-79 Wed, 26 Nov 2014 03:24:55 +0000 live Canadian oil sands producers pledge to cut pollution http://www.upstreamonline.com/live/1384675/Canadian-oil-sands-producers-pledge-to-cut-pollution Canada's largest oil sands producers have pledged to make their crude less polluting than conventional oil by cutting water use and lowering energy consumption, as environmental protesters move to block new pipelines to ship the product abroad. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384675/Canadian-oil-sands-producers-pledge-to-cut-pollution Wed, 26 Nov 2014 03:18:32 +0000 live Tag hits Taranaki pay http://www.upstreamonline.com/live/1384674/Tag-hits-Taranaki-pay Canada's Tag Oil & Gas has hit hydrocarbon bearing sands with a well at the Cheal E site in New Zealand's onshore Taranaki basin. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384674/Tag-hits-Taranaki-pay Wed, 26 Nov 2014 03:02:16 +0000 live Petrobras creates new compliance role http://www.upstreamonline.com/live/1384673/Petrobras-creates-new-compliance-role The board of Brazil's Petrobras has approved the creation of a new role that will oversee compliance and risk mitigation within the company, including ensuring it is not involved fraud and corruption. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384673/Petrobras-creates-new-compliance-role Wed, 26 Nov 2014 01:59:44 +0000 live Otto gets more time http://www.upstreamonline.com/live/1384672/Otto-gets-more-time Australia’s Otto Energy has been granted an extension for sub phase four of Service Contract 55 in the Philippines where it plans to drill the Hawkeye-1 well. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1384672/Otto-gets-more-time Wed, 26 Nov 2014 01:51:03 +0000 live Karoon hits oil in Brazil http://www.upstreamonline.com/live/1384671/Karoon-hits-oil-in-Brazil Karoon Gas Australia has welcomed a 10% surge in its share price after confirming the presence of oil in five separate zones in the Kangaroo-2 appraisal well in the Santos basin, off Brazil. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1384671/Karoon-hits-oil-in-Brazil Wed, 26 Nov 2014 01:02:20 +0000 live Woodside to pick up more Moroccan acreage http://www.upstreamonline.com/live/1384670/Woodside-to-pick-up-more-Moroccan-acreage Australia's Woodside Petroleum has been granted a reconnaissance licence off the coast of Morocco. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384670/Woodside-to-pick-up-more-Moroccan-acreage Wed, 26 Nov 2014 00:30:45 +0000 live Oil falls another 2% http://www.upstreamonline.com/live/1384666/Oil-falls-another-2 Oil tumbled 2% to near four-year lows on Tuesday in another volatile session as a meeting of Saudi Arabia and three other nations ahead of an Opec summit ended with no deal to curb crude output. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1384666/Oil-falls-another-2 Tue, 25 Nov 2014 22:57:32 +0000 live Pemex installs Tsimin-Xux production platform http://www.upstreamonline.com/live/1384662/Pemex-installs-Tsimin-Xux-production-platform Mexico’s state-controlled Pemex installed a new production processing and compression platform on the Tsimin-Xux complex in the Gulf of Mexico by float-over installation for the first time ever. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1384662/Pemex-installs-Tsimin-Xux-production-platform Tue, 25 Nov 2014 22:05:34 +0000 live Chesapeake loses appeal on bond dispute http://www.upstreamonline.com/live/1384660/Chesapeake-loses-appeal-on-bond-dispute A divided federal appeals court said Chesapeake Energy had no right to redeem $1.3 billion of notes early at a favourable price, saying the second-largest US natural gas company waited too long to tell investors of its plans, according to a report. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1384660/Chesapeake-loses-appeal-on-bond-dispute Tue, 25 Nov 2014 21:43:14 +0000 live Freeport LNG set to break ground http://www.upstreamonline.com/live/1384659/Freeport-LNG-set-to-break-ground Freeport LNG has notified contractors to start construction work on the first two trains of the gas-export project on Quintana Island off Texas after closing on around $11 billion in financing commitments. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1384659/Freeport-LNG-set-to-break-ground Tue, 25 Nov 2014 21:21:53 +0000 live TransAtlantic hits on Turkish shale wildcat http://www.upstreamonline.com/live/1384657/TransAtlantic-hits-on-Turkish-shale-wildcat Toronto-listed TransAtlantic Petroleum has drilled and fractured its first well testing the Dadas shale formation in Turkey and flowed the well at a rate of around 800 barrels of oil per day. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1384657/TransAtlantic-hits-on-Turkish-shale-wildcat Tue, 25 Nov 2014 20:33:18 +0000 live Pre-Opec talks yield no output cuts http://www.upstreamonline.com/live/1384656/Pre-Opec-talks-yield-no-output-cuts Impromptu talks between Saudi Arabia, fellow Opec member Venezuela and oil powers Russia and Mexico yielded no agreement on Tuesday on how to address a growing oil glut, ending without any plan to cut output despite a collapse in prices. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1384656/Pre-Opec-talks-yield-no-output-cuts Tue, 25 Nov 2014 20:27:39 +0000 live Putin signs oil tax changes into law http://www.upstreamonline.com/live/1384646/Putin-signs-oil-tax-changes-into-law Russian President Vladimir Putin signed a hotly debated law on Tuesday primarily concerning two of the largest direct taxes on the country’s oil producers – the crude oil export tax and the oil production tax. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1384646/Putin-signs-oil-tax-changes-into-law Tue, 25 Nov 2014 16:12:07 +0000 live Gazprom Neft, PetroVietnam in Arctic pact http://www.upstreamonline.com/live/1384640/Gazprom-Neft-PetroVietnam-in-Arctic-pact Gazprom Neft and PetroVietnam are aiming to jointly explore for oil and gas at Russia’s Dolginskoye field in the Pechora Sea in Russia’s Arctic region. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1384640/Gazprom-Neft-PetroVietnam-in-Arctic-pact Tue, 25 Nov 2014 15:41:52 +0000 live Brent steady ahead of Opec summit http://www.upstreamonline.com/live/1384602/Brent-steady-ahead-of-Opec-summit Brent crude oil prices steadied around $80 a barrel on Tuesday ahead of a meeting of OPEC nations to decide on oil production levels for next year. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384602/Brent-steady-ahead-of-Opec-summit Tue, 25 Nov 2014 15:33:00 +0000 live Statoil pulls vessel option http://www.upstreamonline.com/live/1384638/Statoil-pulls-vessel-option Statoil has decided not to declare a 100-day option on a well intervention vessel in a further cutback by the cost-cutting state-owned operator. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1384638/Statoil-pulls-vessel-option Tue, 25 Nov 2014 13:50:24 +0000 live Zargon in Alberta asset sale deal http://www.upstreamonline.com/live/1384633/Zargon-in-Alberta-asset-sale-deal Canadian junior Zargon Oil & Gas is bagging C$25 million (US$22.18 million) from the sale of oil and gas assets in east-central Alberta. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1384633/Zargon-in-Alberta-asset-sale-deal Tue, 25 Nov 2014 13:27:32 +0000 live Shareholders back 3Legs payout http://www.upstreamonline.com/live/1384630/Shareholders-back-3Legs-payout Shareholders in London-listed shale explorer 3Legs Resources have unanimously approved the company’s plans to return remaining capital to shareholders as it winds up the business. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1384630/Shareholders-back-3Legs-payout Tue, 25 Nov 2014 12:46:17 +0000 live Total faces 'graft trial' http://www.upstreamonline.com/live/1384629/Total-faces-graft-trial Total is to face trial in France over corruption allegations relating to Iranian contracts dating from the 1990s and early 2000s, according to a report. (News Wires) http://www.upstreamonline.com/live/1384629/Total-faces-graft-trial Tue, 25 Nov 2014 11:43:44 +0000 live Judge puts C&J-Nabors deal on ice http://www.upstreamonline.com/live/1384627/Judge-puts-CJ-Nabors-deal-on-ice A Delaware court has put Houston-based C&J Energy Services’ $2.86 billion merger with the completion and production unit of Nabors Industries temporarily on ice, in a rare move for a judge in a live deal. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1384627/Judge-puts-CJ-Nabors-deal-on-ice Tue, 25 Nov 2014 10:55:15 +0000 live Saipem, Daewoo in $1bn Caspian deal http://www.upstreamonline.com/live/1384623/Saipem-Daewoo-in-1bn-Caspian-deal Italy’s Saipem has gained a pipeline contract in the Caspian worth around $1 billion. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1384623/Saipem-Daewoo-in-1bn-Caspian-deal Tue, 25 Nov 2014 10:04:19 +0000 live Solstad wins Chevron gig http://www.upstreamonline.com/live/1384615/Solstad-wins-Chevron-gig Solstad Offshore has landed extensive platform installation work for one of its vessels with Chevron off Thailand. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1384615/Solstad-wins-Chevron-gig Tue, 25 Nov 2014 09:31:40 +0000 live 'Budget cut' for Mongstad http://www.upstreamonline.com/live/article1384614.ece The Norwegian government is reportedly slashing funding for the Mongstad test centre for carbon capture technology by as much as Nkr40 million ($5.9 million) under a Budget compromise pact with alliance parties. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/article1384614.ece Tue, 25 Nov 2014 09:14:48 +0000 live Reach bags Technip award http://www.upstreamonline.com/live/1384610/Reach-bags-Technip-award Reach Subsea has secured a deal worth up to Nkr70 million ($10.3 million) with Technip to provide remote-operated vehicle services on a newbuild subsea construction vessel to be supplied by Eidesvik Offshore. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1384610/Reach-bags-Technip-award Tue, 25 Nov 2014 08:28:44 +0000 live Antrim responds to Sound takeover plan http://www.upstreamonline.com/live/1384608/Antrim-responds-to-Sound-takeover-plan The board of Canada's Antrim Energy is evaluating the takeover proposal from UK-listed Sound Oil and has raised concern over earlier discussions with the company. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384608/Antrim-responds-to-Sound-takeover-plan Tue, 25 Nov 2014 08:11:55 +0000 live Clarksons hatches $440m Platou deal http://www.upstreamonline.com/live/1384607/Clarksons-hatches-440m-Platou-deal UK shipbroker Clarksons is lining up a $440 million takeover of Norway's RS Platou in a deal that would only have a small cash element. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1384607/Clarksons-hatches-440m-Platou-deal Tue, 25 Nov 2014 08:01:22 +0000 live